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Egypt’s Exports to Cyprus Hike 69% in 2022

Cairo –  Egypt exported goods worth $76 million to Cyprus in 2022, an annual surge of 68.80% from $45 million, according to the Central Agency for Public Mobilization and Statistics (CAPMAS).

The African state’s imports from the island amounted to $9 million as of 31 December 2022, lower by 62.50% year-on-year (YoY) than $24 million.

Moreover, the value of bilateral trade between Egypt and Cyprus jumped by 23.20% to $85 million last year from $69 million in 2021.

During fiscal year (FY) 2021/2022, Cyprus pumped investments valued at $67.50 million, down 28% from $93.80 million during the previous FY.

The remittances of Egyptians working in Cyprus declined by 15% YoY to $14.20 million in FY20/21 from $16.70 million. Meanwhile, the remittances of Cypriots working in Egypt increased by 6.50% YoY to $2 million from $1.80 million.

Source : Zawya

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